EXXON UNVEILS LATEST DEEPWATER GULF OF MEXICO GIANT FIND

Exxon Corp. has disclosed what apparently is the fourth giant oil and gas field discovery operators reported this year in the deepwater Gulf of Mexico. Exxon says its Diana prospect in 4,645 ft of water on East Breaks Block 945 about 125 miles south of Galveston, Tex., might hold reserves of more than 100 million bbl of oil equivalent. That potential was identified by log analyses and wireline tests. Exxon says the discovery is predominantly gas. The Diana discovery well cut multiple

Dec. 16, 1991

2 min read

Exxon Corp. has disclosed what apparently is the fourth giant oil and gas field discovery operators reported this year in the deepwater Gulf of Mexico.

Exxon says its Diana prospect in 4,645 ft of water on East Breaks Block 945 about 125 miles south of Galveston, Tex., might hold reserves of more than 100 million bbl of oil equivalent. That potential was identified by log analyses and wireline tests.

Exxon says the discovery is predominantly gas.

The Diana discovery well cut multiple Pliocene/Miocene pays at 10,200-10,600 ft en route to total depth of 11,930 ft.

Odeco Inc.'s Ocean America semisubmersible set a world drilling record on the location for water depth by a semisubmersible, Exxon said. Ocean America finished drilling the Diana discovery well in July 1990.

LEASEHOLD DETAILS

Exxon acquired East Breaks 945 for $8.2 million in August 1985 at Outer Continental Shelf Sale 102. Operator Exxon owns 67% interest and BP Exploration 33%.

In addition to East Breaks 945, Exxon and BP alone or as partners hold another 18 leases in the vicinity, all in water depths of more than 4,500 ft.

At OCS Sale 125 in August 1990, Exxon acquired 100% interests in East Breaks Blocks 901, 902, 944, 947, and 990 and in Alaminos Canyon Block 21. Exxon also holds interests in East Breaks Blocks 904, 946, 948, 988, 989, 991, 992, and 994, and in Alaminos Canyon blocks 24, 25, and 26.

Exxon says delineation drilling will be needed to test additional objectives and delineate the size of the discovery.

A full technical evaluation is expected by yearend 1992, following completion of a 3-D seismic survey.